Phillips 66 (NYSE:PSX) Shares Sold by North Star Asset Management Inc.

North Star Asset Management Inc. cut its stake in shares of Phillips 66 (NYSE:PSX) by 4.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,044 shares of the oil and gas company’s stock after selling 85 shares during the quarter. North Star Asset Management Inc.’s holdings in Phillips 66 were worth $272,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. MCF Advisors LLC raised its position in Phillips 66 by 1.6% during the 4th quarter. MCF Advisors LLC now owns 6,731 shares of the oil and gas company’s stock worth $896,000 after buying an additional 104 shares during the last quarter. OLD National Bancorp IN grew its position in Phillips 66 by 28.5% during the fourth quarter. OLD National Bancorp IN now owns 8,824 shares of the oil and gas company’s stock valued at $1,175,000 after buying an additional 1,957 shares during the period. Commerzbank Aktiengesellschaft FI grew its position in Phillips 66 by 5.4% during the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 8,642 shares of the oil and gas company’s stock valued at $1,151,000 after buying an additional 445 shares during the period. LRT Capital Management LLC acquired a new position in shares of Phillips 66 in the fourth quarter worth about $2,487,000. Finally, CWM LLC boosted its stake in shares of Phillips 66 by 11.1% during the 4th quarter. CWM LLC now owns 23,988 shares of the oil and gas company’s stock worth $3,194,000 after acquiring an additional 2,403 shares in the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Citigroup started coverage on Phillips 66 in a report on Wednesday, January 24th. They issued a “buy” rating for the company. Raymond James increased their target price on Phillips 66 from $140.00 to $155.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. Wells Fargo & Company upped their price objective on shares of Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Barclays boosted their target price on shares of Phillips 66 from $139.00 to $155.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 18th. Finally, Mizuho cut their price objective on Phillips 66 from $167.00 to $162.00 and set a “neutral” rating for the company in a research note on Friday, April 12th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $158.00.

Insider Buying and Selling at Phillips 66

In other news, VP Joseph Scott Pruitt sold 7,200 shares of Phillips 66 stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total transaction of $1,132,272.00. Following the sale, the vice president now directly owns 6,583 shares of the company’s stock, valued at $1,035,242.58. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Richard G. Harbison sold 21,934 shares of Phillips 66 stock in a transaction on Monday, February 12th. The shares were sold at an average price of $146.27, for a total value of $3,208,286.18. Following the completion of the sale, the executive vice president now owns 24,941 shares in the company, valued at $3,648,120.07. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Joseph Scott Pruitt sold 7,200 shares of the company’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $157.26, for a total transaction of $1,132,272.00. Following the completion of the sale, the vice president now directly owns 6,583 shares in the company, valued at $1,035,242.58. The disclosure for this sale can be found here. Insiders sold a total of 35,056 shares of company stock valued at $5,272,681 in the last ninety days. Insiders own 0.22% of the company’s stock.

Phillips 66 Stock Up 1.5 %

NYSE PSX opened at $157.05 on Tuesday. The company has a quick ratio of 1.02, a current ratio of 1.26 and a debt-to-equity ratio of 0.56. Phillips 66 has a fifty-two week low of $89.74 and a fifty-two week high of $174.08. The business has a 50 day moving average price of $154.65 and a two-hundred day moving average price of $135.96. The stock has a market cap of $67.19 billion, a PE ratio of 10.15, a P/E/G ratio of 1.92 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last posted its earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 EPS for the quarter, topping analysts’ consensus estimates of $2.37 by $0.72. The business had revenue of $38.74 billion for the quarter, compared to analysts’ expectations of $34.30 billion. Phillips 66 had a net margin of 4.68% and a return on equity of 22.10%. As a group, sell-side analysts predict that Phillips 66 will post 13.45 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be issued a $1.15 dividend. The ex-dividend date of this dividend is Friday, May 17th. This represents a $4.60 dividend on an annualized basis and a yield of 2.93%. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s payout ratio is currently 27.15%.

Phillips 66 Company Profile

Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined petroleum products to market; provides terminaling and storage services for crude oil and refined petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.